A downturn from the Dow Jones sapped the European markets of their early energy this Wednesday.
Having promised a 100 point climb after the bell, the Dow Jones ended up falling by 140 points, taking the index back below 24900 for the first time since last Friday. The ongoing chaos of Donald Trump’s White House, specifically the departure of one of the comparatively more reasonable members of the circus Rex Tillerson, is likely the reason behind the Dow’s disappointing open, investors unhappy with the constant political instability.
Given that the European markets have been regularly taking their cues from the US in the last few weeks, it was no surprise that the region’s indices began to shed their morning growth after the bell rang on Wall Street. The DAX managed to hold onto a 0.2% increase, though that still leaves the index 100 points off its intraday high, while the CAC trickling into the red by around 0.1%. As for the FTSE, it ended up sitting flat at around 7140, a comedown from its previous half a percent growth.
The forex markets, meanwhile, were very hard to read. The dollar mounted a very mild rebound against the pound and the euro, rising 0.1% and 0.2% against the pair respectively, with the greenback still sharply down on the week. Against each other the sterling just above had the edge over the single currency, nudging towards a 12 day high.
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